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Use supply and demand curves to illustrate and explain how each of the following events would affect the market for petrol in Singapore. a. An

Use supply and demand curves to illustrate and explain how each of the following events would affect the market for petrol in Singapore.

a. An increase in the demand for cars.

b. A decrease in excise tax on petrol.

c. A continuation of conflict between global oil suppliers.

d. A global recession.

e. A government subsidy paid to electric car manufacturers.

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